NuVasive, Inc. (NUVA) Receives $68.67 Consensus Target Price from Analysts

Shares of NuVasive, Inc. (NASDAQ:NUVA) have been given an average recommendation of “Hold” by the twenty analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $68.67.

A number of equities research analysts recently weighed in on NUVA shares. Needham & Company LLC decreased their price objective on NuVasive from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Robert W. Baird upgraded NuVasive from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $82.00 in a research note on Thursday, September 27th. ValuEngine upgraded NuVasive from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Zacks Investment Research cut NuVasive from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. Finally, Morgan Stanley upped their price objective on NuVasive from $55.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th.

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in NuVasive by 10.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,303,103 shares of the medical device company’s stock valued at $67,919,000 after buying an additional 121,467 shares during the last quarter. Eagle Asset Management Inc. raised its stake in NuVasive by 12.8% in the second quarter. Eagle Asset Management Inc. now owns 1,267,961 shares of the medical device company’s stock valued at $66,086,000 after buying an additional 143,926 shares during the last quarter. Anchor Capital Advisors LLC raised its stake in NuVasive by 1,205.1% in the second quarter. Anchor Capital Advisors LLC now owns 983,977 shares of the medical device company’s stock valued at $51,285,000 after buying an additional 908,582 shares during the last quarter. Hood River Capital Management LLC raised its stake in NuVasive by 261.3% in the second quarter. Hood River Capital Management LLC now owns 866,653 shares of the medical device company’s stock valued at $45,170,000 after buying an additional 626,770 shares during the last quarter. Finally, Northern Trust Corp raised its stake in NuVasive by 2.6% in the second quarter. Northern Trust Corp now owns 805,285 shares of the medical device company’s stock valued at $41,972,000 after buying an additional 20,070 shares during the last quarter.

Shares of NUVA stock opened at $65.75 on Wednesday. NuVasive has a twelve month low of $44.62 and a twelve month high of $72.41. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 1.95 and a beta of 0.69.

NuVasive (NASDAQ:NUVA) last issued its earnings results on Tuesday, July 31st. The medical device company reported $0.58 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. NuVasive had a return on equity of 13.70% and a net margin of 3.96%. The business had revenue of $281.56 million during the quarter, compared to analysts’ expectations of $276.05 million. As a group, sell-side analysts predict that NuVasive will post 2.39 earnings per share for the current fiscal year.

About NuVasive

NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.

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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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